Question

sold goods for cash costing 40000 at a profit of 20%and on credit costing 72000 at a profit of 25%. accounting equation copy m bana k Dena bhai
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Answer 1

Answer:

Cost = 40000

Profit = 8000(+20%)

Invoice Price = 48000(on cash)

Cost = 72000

Profit = 18000(+25%)

Invoice Price = 90000(on credit)

Total sale value = 90000 + 48000 = 138000

Cash A/C .........Dr 48000

Debtor A/C .........Dr 90000

Total sale A/C 138000

(Being goods sold for cash and by credit)

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Answer 2

Answer:

accounting equation

Explanation:

firsty increase cash by 48000, decrease in stock by 40000 and increase in capital by 8000.